Saudi Arabia's stock market finished modestly higher on Tuesday, with the Tadawul All Share index closing up 0.03%.
Gains were led by several sectors, most notably Financial Services, Industrial Investment and Retail, which together helped offset losses elsewhere on the exchange.
The session's strongest performers included Bawan (TADAWUL:1302), which jumped 9.97% - a rise of 4.16 points - to finish at 45.90. Middle East Specialized Cables Co (TADAWUL:2370) added 7.25%, gaining 1.46 points to close at 21.60. Arabian Pipes Company (TADAWUL:2200) advanced 7.10%, up 0.34 points to end the day at 5.13.
Not all names participated in the rally. On the downside, Al Masane Al Kobra Mining Company CJSC (TADAWUL:1322) fell 7.38%, or 6.95 points, to close at 87.20. Arabian Drilling Co (TADAWUL:2381) slipped 6.93%, down 5.70 points to 76.55. Saudi Arabian Mining Company (TADAWUL:1211) declined 6.76%, losing 4.70 points to finish at 64.85.
Market breadth was negative at the close. Falling issues outnumbered advancing ones by 180 to 151, while 14 stocks ended unchanged.
Commodities markets showed notable moves during the session. West Texas Intermediate crude for May delivery rose 4.20%, gaining $3.70 to trade at $91.83 a barrel. Brent crude for June delivery climbed 3.30%, up $3.17 to $99.09 a barrel. In metals, the June gold futures contract decreased 0.86%, a drop of $38.26, to trade at $4,401.24 a troy ounce.
Foreign exchange activity versus the Saudi riyal was muted. The euro fell 0.25% against the riyal to 4.35 EUR/SAR, while the US dollar was effectively unchanged against the riyal, moving 0.01% to 3.75 USD/SAR. Meanwhile, US Dollar Index futures were quoted up 0.49% at 99.21.
The close left the broader index with a fractional gain, while single-stock volatility produced both sizable advances and declines across industrial, mining and drilling names. Oil's upward movement was a prominent feature of the market backdrop during the session.